8 things you should know about Saudi Arabia’s blockbuster bond deal
Photo: A Saudi money changer displays Saudi Riyal banknotes at a currency exchange shop in Riyadh, Saudi Arabia September 29, 2016. REUTERS/Faisal Al Nasser
On October 21st, the oil-rich kingdom made the biggest emerging-markets bond deal in history. And there’s been only one trigger for this move—falling oil prices.
The largest economy in the Middle East is heavily dependent on oil-export dollars, and the plunge in prices from more than $100 a barrel in 2014 to as low as $30 at the beginning of 2016 has caused serious damage to its economy.
Here’s what you should know about the bond sale:
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Seban Scaria